Even just hearing that word conjures up all kinds of warm and fuzzy feelings for me.
I remember playing the board game Monopoly as a kid. My favorite Chance card was the one where Mr. Monopoly (or Rich Uncle Pennybags) collected his bank dividend of $50.
I thought that was so neat. Collecting money for nothing. Growing up as poor as I did, it seemed like a pipe dream as a child.
Well, it’s no pipe dream.
But it is a dream; it’s a dream of a lifestyle that almost anyone can live, as I’ve proven out over the years.
Mr. Monopoly sits on my shelf at home, reminding me every day of just how far I’ve come…
And I did so with no particular advantage(s) over anyone else. I grew up in a crack house in Detroit. My parents abandoned me. I have no college degree. I worked at a car dealership making ~$50,000 per year – until I didn’t.
Those six years of my life I set aside to aggressively save and intelligently invest my capital resulted in financial freedom at 33 years old – which is how I became Mr. Free At 33.
That financial freedom is underpinned by the five-figure and growing passive dividend income my FIRE Fund generates on my behalf.
I aptly named my portfolio the FIRE Fund because it allows me FI/RE (financial independence/retired early).
The Fund is a portfolio built on the tenets of dividend growth investing, whereby I allocate my capital almost exclusively toward high-quality stocks that have lengthy track records of paying rising dividends year after year.
These are world-class businesses. Because of that, they tend to rake in more profit year in and year out. And because shareholders are ultimately the collective owners of any publicly-traded company, growing dividends are our rightful share of that growing profit.
Well, the growing dividends that are sent my way by the businesses I own a slice of are enough to cover my basic personal expenses in life, meaning I don’t need to ever have a job again. Haven’t had one since turning 32 years old. And I have no plans to ever have one again.
If you’re interested in using dividend growth investing to achieve FIRE for yourself, check out my two best-selling books on this: The Dividend Mantra Way and 5 Steps To Retire In 5 Years (also available in paperback).
What you’ll soon see is the tangible manifestation of all of these concepts I write about.
The table below lists every dividend I received (as well as each respective company that paid it) from the preceding month.
This is real cash money, folks. Every time a dividend comes in, that’s real-life money I can use to do whatever I want with. Now we all know why Mr. Monopoly loved to kick back with a cigar, like a boss.
When you’re collecting a dividend a day, you are a boss!
Without further ado…
|Albemarle Corporation (ALB)||$11.73|
|The Coca-Cola Co. (KO)||$54.60|
|Genuine Parts Company (GPC)||$3.60|
|PPL Corp. (PPL)||$16.40|
|Kimberly-Clark Corp. (KMB)||$20.00|
|South Jersey Industries Inc. (SJI)||$14.00|
|Nike Inc. (NKE)||$1.00|
|Altria Group Inc. (MO)||$56.00|
|Illinois Tool Works Inc. (ITW)||$27.30|
|Philip Morris International Inc. (PM)||$114.00|
|Omnicom Group Inc. (OMC)||$6.00|
|Ventas, Inc. (VTR)||$47.40|
|Realty Income Corp. (O)||$20.90|
|Chubb Ltd. (CB)||$10.95|
|Cardinal Health Inc. (CAH)||$14.29|
|EPR Properties (EPR0||$14.40|
|Main Street Capital Corporation (MAIN)||$22.80|
|Pebblebrook Hotel Trust (PEB)||$24.70|
|Stag Industrial Inc. (STAG)||$13.02|
|STORE Capital Corp. (STOR)||$13.95|
|W.P. Carey Inc. (WPC)||$76.50|
|Cisco Systems, Inc. (CSCO)||$18.15|
|Medtronic PLC (MDT)||$18.50|
|Walt Disney Co. (DIS)||$33.60|
|Armanino Foods of Dinstinction Inc. (AMNF)||$30.38|
|Bank of Nova Scotia (BNS)||$50.19|
|Chatham Lodging Trust (CLDT)||$15.95|
|Toronto-Dominion Bank (TD)||$30.85|
Just for reference, a great resource for tracking your portfolio and everything related to it is Personal Capital.
The money for nothing, and my life for free!
It fills me with joy to know my money is working this hard for me, so I don’t have to. It’s just such an amazing position to be in. I’m truly the happiest I’ve ever been.
I can go about my life as I please – doing what I like, when I like, where I like, with people I like. That’s a luxury that you can’t really put a price on, and it’s far more luxurious than any physical object I can think of. I’d simply much rather own my time than anything else in this world.
As I’ve said many times over the years, this is something just about anyone can do.
Financial freedom doesn’t require a special ticket, a certain amount of intelligence, a particular skin color, or anything else like that.
You just have to work hard, stay consistent, believe in yourself, and want it more than anything else. You have to know you will get there because you have the will to make it happen.
This month’s dividend income is 17.4% higher than the $665.14 I collected in July 2017. The total amount of dividend income I’ve collected in 2018 is now up to $7,029.31. That’s 13.3% YOY growth compared to the $6,201.60 in dividend income I earned through July 2017.
That’s fantastic YOY dividend growth here, especially considering that organic dividend growth (the dividend increases that come from the companies I’m invested in) did the heavy lifting here – I’m no longer aggressively buying stocks. The portfolio is basically in “maintenance mode” from here on out.
And since moving abroad has more or less eliminated inflation from my life, dividend growth isn’t even the concern it once was for me.
Still, large annual increases in purchasing power goes a long way toward improving my quality of life through the additional flexibility/options that comes along with that.
It was another fantastic month, and I hope all of you also had a fantastic July!
Full disclosure: I’m long all aforementioned stocks.
How was your month? How much dividend income did you collect? Is your dividend income (and the growth of it) living up to expectations?
Thanks for reading.
Image courtesy of: bplanet at FreeDigitalPhotos.net.
P.S. If you’d also like to collect five-figure dividend income and reach FIRE, check out some phenomenal resources that personally helped me become financially independent in my early 30s!